Bank loans and high-yield bonds both offer some of the highest yields in the fixed income market today. Both are worth consideration for those investors who are willing to take additional risks to earn higher yields, but bank loans are starting to look a bit more attractive than high-yield bonds today. Bank loans are a type of corporate debt that offer some unique characteristics, but most importantly, they have sub-investment-grade, or “junk,” ratings, which usually means more volatility and greater potential for price declines. With those junk ratings, we consider bank loans to be “aggressive income” investments, ... (full story)